PHTR ICO is live. EFI on the spotlight – DeFi market wrap
Phuture is a decentralized protocol that attracted investors’ attention due to its interesting features. The founders built it to give the users the opportunity to create and invest in passive index strategies in a Web 3.0 environment. They based Phuture on an open design philosophy that creates passive investment strategies. This platform provides customers with the necessary tools to create new indices. With it, users can also invest in existing indices.
Phuture combines a user-friendly interface and a set of powerful instruments. Its Index Creator simplifies index creation by providing customizable parameters, including automatic sector tracking and dynamic weighting methods.
Furthermore, the protocol enables scalability by allowing a single swap to simultaneously rebalance multiple indexes. The mechanism calculates the optimal assets for rebalancing. It also determines the acceptable ranges of weights. The platform not only supports hundreds of indices but also minimizes loss of value during trades and improves index productivity.
Phuture protocol completed its private seed fundraising round in early May 2021. The company managed to raise approximately $1.5 million. It had the backing of prominent VC firms, including NGC Ventures, Ascensive Assets, SevenX, Origin Capital, Moonrock Capital, Waterdrip Capital, and D64.
Phuture became popular fast, which isn’t surprising, considering its advantages. The platform allows customers to launch their indices using assets on the Ethereum blockchain.
Additionally, the project’s index portfolio grows along with the market, and it supports new sectors. According to the team, PHTR token holders can strongly influence the protocol’s development, as well as actively participate in making critical decisions. Phuture minimizes opportunity costs by using third-party profitability optimizers.
What other advantages does this platform offer?
Phuture token owners will have voting rights. They will also be able to make improvement suggestions. If a customer stakes PHTR, they get ePHTRs that generate income. Furthermore, investors can use PHTR tokens to increase the liquidity of indices. They can earn PHTR by performing essential tasks for the platform.
A total supply of PHTR consists of 100,000,000 tokens. The team will distribute tokens in the following manner: 25% goes to the team, 53% to the foundation, 18% to the seed sale, 3% to the advisors, 1% to the public sale. However, only 833,333 PHTR are for sale, and the price is $0.3 per token. The ICO is live now.
EFI has garnered investors’ attention. Why’s that?
Enjin is developing Efinity, a next-generation blockchain built on Polkadot specifically for digital assets. Maxim Blagov and Witek Radomski founded Enjin in 2009. Since then, they have grown their first product, the Enjin Network, to over 20 million gamers around the world.
The company also launched its native token ENJ, hosting a successful ICO in 2017. Afterward, it decided to pioneer a vision for non-fungible tokens (NFTs), acknowledging its many benefits. Enjin managed to establish itself as a world-class blockchain developer. It began building a holistic ecosystem of products that anyone can use to easily develop, monetize, trade, and market with NFTs and blockchain.
The Enjin platform, Marketplace, Wallet, Beam, and Explorer comprise this integrated blockchain ecosystem. They also provide the tools and solutions developers and investors need to tokenize digital assets and integrate them into the software.
Some major companies, including Microsoft (Azure Heroes), BMW (Vantage), and Samsung (Samsung Blockchain Keystore), have already integrated Enjin’s products and services.
ENJ token’s market cap is approximately $1.5 billion. As of June 2021, more than 120,000 individuals own over 800 million Enjin tokens worldwide (not including exchanges). ENJ also won the approval of Japan’s financial regulators. It got listed on CoinCheck in January 2021. As a result, ENJ became the first gaming token approved for use in Japan under the JVCEA.
What about Efinity token?
With the growing interest in DeFi space, there is strong demand for a platform that can deliver a modern, developer-friendly and mainstream NFT experience. Enjin decided to deliver it by creating the Efinity platform. Investors have to battle lots of problems to achieve success in DeFi. For instance, there are exorbitant fees, disjointed interoperability, and inflexible smart contracts.
However, Efinity aims to solve these problems. Its purpose is to become an NFT highway, not a general computing blockchain. The network’s priorities are token creation, transfers, and purchases.
The team designed Efinity in such a way that transaction fees can stay in the background, thus allowing customers to experience their favorite collectibles without worrying about how the network operates.
What’s more important, Efinity also launched its native EFI token to compensates users for their participation. Some investors consider Efinity Token as the most exciting unlisted cryptocurrency. Enjin Coin holders can earn EFI through staking and minting. EFI’s utility is comparable to Ethereum as customers can use it to pay transaction fees on the Efinity network.
Fenix Finance will launch its native token’s ICO tomorrow
Fenix Finance is a new generation DeFi project. It combines a decentralized cryptocurrency exchange, a yield farming platform, an automatic market maker protocol (AMM), and an NFT marketplace. Fenix Finance enables quick expansion of this range by adding new farms, new pools, partner projects, and some completely new spheres of activity. The Fenix team aims to create an ecosystem that can offer any DeFi investor or trader a way to generate suitable income.
Fenix Finance’s Masterchef contract is also involved in profitable farming. However, the team distributes the profit generated from it among all participants of the project’s farms and pools, providing the users with an additional source of income.
Furthermore, Fenix Finance offers the token burning mechanism, which protects farmers from market-induced risks. It also mitigates possible declines in the FenixSwap token exchange rate, thus ensuring its stable growth.
The company removed the Migrator function and implemented a Timelock of 24 hours instead. Fenix Finance hopes to entirely remove the risk of a rug pull so that its farmers could farm without risks.
According to the Fenix team, they will charge a deposit fee at staking and use the funds to purchase Fenix and burn it. Their goal is to create Fenix for everyone to farm from it. Users will be able to earn Fenix and other coins while staking.
Here are the details about the sale
The initial coin offering will start tomorrow, June 4, 2021. A total of 15,000,000 FENIX will be available for sale, and the price is $0.06 per token. The team plans to raise $900,000 during the ICO sale.
To ensure users’ safety, they took some steps. For instance, the platform will delay any changes made to the smart contract by 24 hours.
However, they will implement that after they finish introducing all their pools and confirm the rewards are working as expected. The team will also report any changes to the contracts, like adding a new pool to the community. They have also removed the Migrator function from the Masterchef contract to ensure the safety of users’ funds during farming.
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